Keep Looking!

Something went wrong.

March 2018 Zionsville Rent Report

Welcome to the March 2018 Zionsville Rent Report. Zionsville rents increased over the past month. In this report, we'll evaluate trends in the Zionsville rental market, including comparisons to cities throughout the state and nation.

March 2018 Zionsville Rent Report

Welcome to the March 2018 Zionsville Rent Report. Zionsville rents increased over the past month. In this report, we'll evaluate trends in the Zionsville rental market, including comparisons to cities throughout the state and nation.

Zionsville rents increase sharply over the past month

Zionsville rents have increased 1.5% over the past month, and are up marginally by 0.9% in comparison to the same time last year. Currently, median rents in Zionsville stand at $1,210 for a one-bedroom apartment and $1,500 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in November of last year. Zionsville's year-over-year rent growth lags the state average of 1.8%, as well as the national average of 2.3%.

Rents rising across cities in Indiana

Throughout the past year, rent increases have been occurring not just in the city of Zionsville, but across the entire state. Of the largest 10 cities that we have data for in Indiana, 8 of them have seen prices rise. The state as a whole logged rent growth of 1.8% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

Looking throughout the state, Carmel is the most expensive of all Indiana's major cities, with a median two-bedroom rent of $1,200; of the 10 largest cities in Indiana that we have data for, South Bend and Lafayette, where two-bedrooms go for $840 and $800, are the only two major cities in the state to see rents fall year-over-year (-1.3% and -0.1%).

Fort Wayne, Indianapolis, and Carmel have all experienced year-over-year growth above the state average (3.2%, 2.6%, and 2.2%, respectively).

Many large cities nationwide show more affordable rents compared to Zionsville

As rents have increased marginally in Zionsville, a few large cities nationwide have also seen rents grow modestly. Compared to most large cities across the country, Zionsville is less affordable for renters.

Zionsville's median two-bedroom rent of $1,500 is above the national average of $1,160. Nationwide, rents have grown by 2.3% over the past year compared to the 0.9% rise in Zionsville.

While Zionsville's rents rose marginally over the past year, many cities nationwide also saw increases, including Phoenix (+3.3%), Atlanta (+2.3%), and Seattle (+2.1%).

Renters will generally find more expensive prices in Zionsville than most large cities. For example, Detroit has a median 2BR rent of $890, where Zionsville is more than one-and-a-half times that price.

For more information check out our
national report.
You can also access our full data for cities and counties across the U.S. at
this link.

City

Median 1BR price

Median 2BR price

M/M price change

Y/Y price change

Indianapolis

$690

$850

-0.1%

2.6%

Carmel

$970

$1,200

1.3%

2.2%

Fishers

$960

$1,190

0.2%

1.2%

Noblesville

$770

$960

0.0%

0.9%

Greenwood

$720

$890

-0.4%

2.2%

Plainfield

$770

$950

-0.2%

1.7%

Greenfield

$700

$870

-0.6%

2.3%

Zionsville

$1,210

$1,500

1.5%

0.9%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.